Tesla stock suffers biggest-ever drop

Besides I thought the Model 3 was supposed to become the Tesla for Everyman, clearly not the case.
There are a lot in Silicon Valley. I call the Model 3 the new Corolla.
I recently spent a week in Arlington, TX. I saw very few Teslas, like 5.
The country will catch up.
FYI, in its class, Model 3 sales crushes any other car's numbers.
 
You may call it the new Corolla but that does not make it the new Corolla. Sure your Larry David types and the Ted Dansons. “In it’s class” crushed car number, you mean compared to Audi A6, Benz E Class, BMW 5-series. Wait a minute I thought you said it’s a Corolla?
 
So Tesla is going to become a niche market for “mid sized luxury cars”. That’s their play. Meanwhile Toyota, Volkswagen and General Motors will provide cars for the masses including electrics. Besides I thought the Model 3 was supposed to become the Tesla for Everyman, clearly not the case.

Telsa already owns that niche, and the model 3 is the #1 selling EV in the world.

I dont recall Elon or Tesla claiming saying the model 3 would be for " Everyman", even the 35K car is still a relatively expensive car.

Do you have a source for that?

They telegraphed their desire to move downmarket to a 25K car everyones guess will be a " model 2", but thats speculation.
 
Elon made a huge mistake getting into Bitcoin. Not that I'm really surprised but everyone needs to remember that Bitcoin is one of the biggest scams to ever exist. It will crash back down just like it did last time.

As far as the Model 3, there are about 3 people around here at my work that have them. Spending $40-50K for one of those is not something 95% of the people who live where I do is even going to remotely consider. Especially when the interior and exterior quality looks worse than my 89 Camaro after 30 years of use. I'd go buy a real luxury car instead if that was what I was after.
 
TSLA stock dropped for several reasons.
- First, the large institutional investors didn't like Elon buying Bitcoin. Most of those investors are very conservative and are skittish on the whole crypto currency concept. It doesn't matter that Elon made enough profit already to fund another factory. And will soon be putting that money into play.
- Second, the bond market yield rate is up, and a lot of those institutional investors would rather move funds to that segment than deal with TSLA's volatility.
- Third, as the nation slowly returns to normal, we are already seeing businesses that got a boost from the lockdown like Amazon, Doordash and others starting to suffer. People will be spending less time on Facebook & Twitter when they return to work and there will be other shifts back to consumer behavior similar to what it was prior to the pandemic. TSLA is considered a "tech stock" and is being pulled down by the general investor feelings about that segment.

These things aren't too difficult to figure out. I'm quite the novice in the investing world and just watching about a hour of financial news each day and pooling all the information and it all makes sense. Well, TSLA has seldom made sense, but it's the reality of the moment.

I'm not worried. I am still pretty confident that the projections of a $1200 share price by the end of the year by the real experts is going to happen. And I will continue to sit on the majority of my holdings.
 
You may call it the new Corolla but that does not make it the new Corolla. Sure your Larry David types and the Ted Dansons. “In it’s class” crushed car number, you mean compared to Audi A6, Benz E Class, BMW 5-series. Wait a minute I thought you said it’s a Corolla?
I call it Corolla becasuse it sells a lot. It kills all the cars you mentioned.
All good.
 
Telsa already owns that niche, and the model 3 is the #1 selling EV in the world.

I dont recall Elon or Tesla claiming saying the model 3 would be for " Everyman", even the 35K car is still a relatively expensive car.

Do you have a source for that?

They telegraphed their desire to move downmarket to a 25K car everyones guess will be a " model 2", but thats speculation.
“Model 3 is intended to be around a $30,000 price point, so that's really affordable by almost everyone who can buy new cars”
- Elon Musk

so my source is Elon Musk
 
“Model 3 is intended to be around a $30,000 price point, so that's really affordable by almost everyone who can buy new cars”
- Elon Musk

so my source is Elon Musk

" around" and "almost" everyone who can buy new cars.

So he didnt flat out say or claim it was a car for "everyman", but bracketed his claim.

He left himself some berth and came pretty close to hitting the price.
 
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The recent storm in Texas rudely demonstrated the fragility of the power grid generally. EVs won't work if there's no way to charge them and they surely can't keep you warm. Like the locals in Jamaica say, don' believe de hype mon.

The hysteria over EVs has suddenly collided with reality💥💥💥
 
" around" and "almost" everyone who can buy new cars.

So he didnt flat out say or claim it was a car for "everyman", but bracketed his claim.

He left himself some berth and came pretty close to hitting the price.
So you are going to be the guy who quibbles that “almost everyone” is meaningfully different from the word Everyman whose definition is “the archetypical ordinary individual”. Or maybe you are just unfamiliar with the literary term Everyman.
 
So you are going to be the guy who quibbles that “almost everyone” is meaningfully different from the word Everyman whose definition is “the archetypical ordinary individual”. Or maybe you are just unfamiliar with the literary term Everyman.
There is no $30K Tesla. Did Musk say there would be? Sure. If you hold every spokesman to everything they say, well then everybody's wrong.
Musk, his companies and his cars have changed the world. And there is likely much more to come.
FYI, there is supposedly a $25K "Model 2" in the works at Shanghai for world wide sales. That would be your Everyman car.
All good.
 
My 2c - Tesla is in big trouble. Musk has a history of over promising and under delivering. And now that actual carmakers (who know how to make cars) are starting to build EV's, Tesla has its work cut out for it.
 
My 2c - Tesla is in big trouble. Musk has a history of over promising and under delivering. And now that actual carmakers (who know how to make cars) are starting to build EV's, Tesla has its work cut out for it.
Yes, logically and fundamentally accurate. But Tesla defies all stock norms and just goes to the moon. The buzz makes it too risky for me but likely going up a lot more in the future. Elon could tweet something and move whatever market a significant amount. Elon makes Tesla. If he left, the stock would be devastated.
 
“Model 3 is intended to be around a $30,000 price point, so that's really affordable by almost everyone who can buy new cars”
- Elon Musk

so my source is Elon Musk
The model 3 was sold for 35k before any tax credits. Pretty cheap considering your fuel, maintenance and depreciation costs are so good. I would say a tesla is 5-10k cheaper to operate and own than a similar gasser. Seems cheap when everyman is rolling in a crew cab truck or a suburban.
 
Elon could tweet something and move whatever market a significant amount.
Totally agree, but in the context of my first post, will such tweets matter when he has solid competition up against him..?

I don't know why he is so hellbent on being a 'carmaker'. For my mind, they would do a lot better as a technological giant who then onsells/licenses that to carmakers with a proven history.
 
Totally agree, but in the context of my first post, will such tweets matter when he has solid competition up against him..?
Competition will come. What does Elon do? Cuts price and competes. Lucid will do poorly because Elon is 10 years ahead and can cut prices. Tesla will have the lowest costs and the most advantages. The biggest reason to not buy a tesla vehicle today is simply how much better and cheaper they will be in a few years.
 
The biggest reason to not buy a tesla vehicle today is simply how much better and cheaper they will be in a few years.
But so will Hyundai/Kia/Toyota etc..time will tell.

I edited my last post before you quoted. I suggest that they would do better selling and/or licensing their technology to established carmakers. I find it odd that they focus on producing proprietary vehicles when their strengths clearly lie in the tech behind them, rather than the finished product.
 
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